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| 1. |
what is the role of WTO |
| Answer» Functions of WTO(i) Promoting an environment that is encouraging to its member countries to come forward to WTO in mitigating their grievances.(ii) Laying down a commonly accepted code of conduct with a view to reducing trade barriers including tariffs and eliminating discriminations in international trade relations.(iii) Acting as a dispute settlement body.(iv) Ensuring that all the rules and regulations prescribed in the Act are duly followed by the member countries for the settlement of their disputes.(v) Holding consultations with IMF and IBRD and its affiliated agencies so as to bring better v understanding and cooperation in global economic policy-making.(vi) Supervising on a regular basis the operations of the revised Agreements and Ministerial declarations relating to goods, services and Trade Related Intellectual Property Rights (TRIPS). | |